<!DOCTYPE HTML PUBLIC "-//W3C//DTD HTML 4.01 Transitional//EN" "http://www.w3.org/TR/html4/loose.dtd">
<html>
<head>
<meta http-equiv="Content-Type" content="text/html; charset=utf-8">
<!-- document position within table of contents; levels separated by dots(.) ie 3.2.4 (one required)-->
<meta name="doc_pos" content="07.02.07.01">
<!-- index positions - used to build index list; up to two levels separated by a dot(.) (zero or more) -->
<meta name="doc_index_1" content="Vendor Credit Memo.Entering">
<!-- glossary items - used to build glossary (zero or more)-->
<!-- glossary terms are imploded with a colon separator -->
<!-- <meta name="doc_glossary_1" content="term:definition of glossary entry"> -->
<!-- Title - Used as the table of contents and index reference title (one required)-->
<meta name="doc_title" content="Entering a Vendor Credit Memo">
<!-- End of meta tags -->

<link rel="stylesheet" type="text/css" href="../../../../stylesheet.css">
<title>Entering Vendor Credit Memo</title>
</head>

<body>

<h1 align="center"> Entering Vendor Credit Memos</h1>
<p>Credit Memos are used to enter sales to a vendor. Once a credit memo has been entered several events may then occur. Inventory items can be ordered (Purchase Orders), items shipped or drop-shipped, pick slips, packing slips or credit memos can be generated for some or all of the items in the order as they become available in your inventory. Reports can be generated to list the inventory shortfalls inventory sales. Credit Memos do not affect your financial situation, income statement or balance sheet. they merely act as a placeholder to determine inventory stock levels needed to fulfill sales. </p>
<ol>
  <li>From the Vendors Menu, select Credit Memos. The Credit Memo form will load.</li>
  <li>Enter the Vendor ID and click on the open icon right of the Vendor ID window. The vendor popup window will appear. Select the vendor from the list and the information will be pre-loaded into the Credit Memo form.<br />
    <br />
    NOTE: The Vendor ID text box also acts as a search box to quickly find vendors.<br />
    <br />
    Vendor records consist of a main address, billing addresses and shipping addresses. Select the billing address and shipping address from the pull down menus. New addresses may be added to either the shipping or billing address if they cannot be found from either of the menus. Selecting the add/update button will update the database whereas leaving it unchecked will just retain the address for this credit memo.<br />
    Drop Ship - If this is a drop ship, select the Drop Ship box and the drop ship search box will appear. Vendors can be searched and their shipping information will be entered into the drop down or the shipping address may be entered directly into the address fields. </li>
  <li>Enter the credit memo Post Date and expected Ship Date. Popup calendars will help with the selection.</li>
  <li> Credit Memo Number - Enter the credit memo number. If left blank, the next credit memo number will be automatically generated by the system.</li>
  <li> Enter the vendors purchase order number, store id and sales representative. The default accounts receivable account is loaded and can be changed. The vendor payment terms are loaded when a vendor is selected from the vendor popup. If a new vendor is entered, the default payment terms are loaded. To change the payment terms, click on the icon next to the terms text field and the terms popup will be displayed. Select the terms for this credit memo and press Save to enter the terms into the credit memo form.</li>
  <li>Enter the inventory items for the credit memo. The form defaults with a single inventory line but more may be added by pressing the Add button located in the lower left area of the credit memo form. Enter the quantity requested.<br />
    <br />
    NOTE: The inventory SKU field also acts as a search field for the inventory popup. To quickly find an inventory item, enter part of the item sku or description and press the icon next to the SKU. The SKU, description and pricing fields will be filled in. <br />
    <br />
  Enter the inventory SKU, description and price (or retrieve from the inventory popup) for the line item. Enter more line items as necessary. </li>
  <li>Enter the shipping charges (or use the shipping estimator to calculate freight charges).</li>
  <li>Select  the tax authority, the tax will be automatically calculated.</li>
  <li>Save or Print the credit memo. Error checking will be performed and any errors will be indicated either in a popup for errors before the form is submitted or at the top of the reloaded page (for errors during  processing). If the Purchase Order number field was left blank, a number will be assigned by the system. If the Print button was selected, the credit memo will be posted first followed by a popup window displaying the possible forms to print, select the form to print and press the Print button. </li>
</ol>
<h3>Related Topics</h3>
<h4>Vendors</h4>
<p><a href="../02-Accounts/01-NewAccount.html">Entering a new vendor </a><br />
<a href="../02-Accounts/02-EditAccount.html">Updating vendor information</a><br />
<a href="../02-Accounts/04-PaymentTerms.html">Setting vendor payment terms and credit limits </a><br />
Checking vendor balances </p>
<h4>Tax Authorities </h4>
<p><a href="../../08-Setup/03-SalesTax/01-TaxAuthorities.html">Setting up tax authorities</a><br />
   <a href="../../08-Setup/03-SalesTax/02-TaxRates.html">Setting up tax rates</a></p>
<h4>Shipping Estimator</h4>
<p>Setting up the shipping estimator<br />
<h4>Credit Memos</h4>
<p><a href="02-EditCrdMemo.html">Edit a vendor credit memo (VCM)</a><br />
  <a href="03-DeleteCrdMemo.html">Delete a vendor credit memo (VCM)</a><br />
Receiving a credit memo</p>
<h4>Reports</h4>
Printing a credit memo</p>
</p>
</body>
</html>
